Sysco (SYY) FY2020 results: revenue $52.9 billion, down 12.0% on the year
Sysco Corp. (SYY) reported revenue of $52.9 billion for fiscal 2020, the year ended 27 June 2020, down 12.0% on the year before. Net income was $215 million, down 87.1%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2020.
Revenue
$52.9 billion
-12.0% on the year
FY2013FY2020
Operating margin
1.4%
3.9% a year earlier
FY2013FY2020
Net income
$215 million
-87.1% on the year
FY2013FY2020
Diluted EPS
$0.42
-86.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
52,893
60,114
58,727
-12.0%
Cost of revenue
42,992
48,705
47,642
-11.7%
Gross profit
9,902
11,409
11,085
-13.2%
Gross margin
18.7%
19.0%
18.9%
Operating income
750
2,330
2,314
-67.8%
Operating margin
1.4%
3.9%
3.9%
Pre-tax income
293
2,006
1,956
-85.4%
Income tax
77.9
332
525
-76.5%
Effective tax rate
26.6%
16.5%
26.9%
Net income
215
1,674
1,431
-87.1%
Net margin
0.4%
2.8%
2.4%
Diluted EPS
$0.42
$3.20
$2.70
-86.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,619
2,411
2,159
-32.9%
Capital expenditure
720
692
688
+4.0%
Free cash flow
898
1,719
1,471
-47.7%
Free cash flow margin
1.7%
2.9%
2.5%
Cash from investing
-756
-743
-910
Cash from financing
4,720
-1,837
-1,410
Depreciation and amortisation
806
764
765
+5.5%
Share-based compensation
42.2
105
93.8
-59.7%
Buybacks
845
1,022
979
-17.4%
Dividends paid
856
775
722
+10.4%
Dividend per share
$1.74
$1.53
$1.41
+13.7%
Diluted shares, weighted
514m
523m
529m
-1.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,159
2,503
2,507
-53.7%
Redeemable equity
34.3
35.4
37.6
-3.3%
Debt
14,447
8,163
8,327
+77.0%
Operating lease liabilities
523
n/a
n/a
Finance lease liabilities
68.9
n/a
n/a
Other liabilities
6,396
7,265
7,199
-12.0%
Total liabilities and equity
22,628
17,967
18,070
+25.9%
Fixed assets
4,459
4,502
4,522
-1.0%
Goodwill
3,732
3,896
3,955
-4.2%
Intangible assets
780
857
980
-9.0%
Securities held for sale or to maturity
116
120
n/a
-3.1%
Cash and equivalents
6,059
513
552
+1,080.1%
Other assets
7,481
8,078
8,061
-7.4%
Total assets
22,628
17,967
18,070
+25.9%
10-K for the year ended 27 June 2020, filed 26 August 2020: the filing.